The Industrial Loan Department has initiated EFT (Electronic Fund Transfer) for Licensees interested in streamlining the payment process for their required financial transactions. The setup procedure only requires a letter to our Fiscal Division on Company letterhead and signed by an authorized representative requesting EFT capability.
The letter should be addressed to Director of Fiscal Services, 2 Martin Luther King Jr. Drive, Suite 916, West Tower, Atlanta, GA 30334. Please include your email address and a telephone number. This letter can be sent via an email attachment to firstname.lastname@example.org or faxed to (770) 408-5935. The Fiscal Division will respond with the necessary account and routing information to establish the EFT link with our bank.
Once a Licensee has established EFT as their payment option, we ask that several procedures be followed when reporting monthly and quarterly tax reporting. If the EFT payment includes multiple Licensees please prepare and forward an excel spreadsheet (.xls format) listing the following information in column order (see example below).
In the example shown below,when an EFT transaction occurs, the bank assigns an EFT Tracking Number. Please include that number in the column under the heading EFT Tracking # so we can accurately reconcile the amount paid by EFT.
|Licensee Number||Transaction for the Month * 1||Year||Transaction Type * 2||Amount Paid * 3||EFT Tracking #|
Each row represents a type of payment
* 1 The transaction month is the month in which the transaction is due.
Monthly Filings: the numbers represent the numerical value for the month, ie, 1 = January and 2 = February, etc..
Quarterly Filings: 3 = First Quarter (March), 6 = Second Quarter (June), 9 = Third Quarter (September) and 12 = Annual/4th Quarter (December).
* 2 Choose a type of Transaction from the look-up table below:
|E||Paid Reexam Fee|
|I||Loan Investigation Fees|
|L||Loan License Fee|
|R||Loan License Renewals|
* 3 All amounts without a dollar sign ($) and with two places after the decimal.
Please remember that the Monthly and Quarterly Tax forms can be submitted electronically also. If you use mail merge to complete these forms we can provide the unlocked version of the form.
Thank you for your cooperation and should you have any questions or comments please do not hesitate to call the Industrial Loan Department.